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S. Korea, Indonesia to hold 6th round of FTA talks next week

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(Globalpost/GlobalPost)

SEOUL, Nov. 3 (Yonhap) -- South Korea and Indonesia will hold a new round of negotiations for a bilateral free trade agreement (FTA) in Bali, Indonesia, next week, the Seoul government announced Sunday.

The talks, the sixth of their kind, will be held for five days from Monday, according to the Ministry of Trade, Industry and Energy.

The negotiations for what is called a comprehensive economic partnership agreemen, a de facto FTA, were launched in March 2012 with their fifth round in September in Seoul.

The two countries are expected to hold in-depth discussion on goods, service, investments, place of origin, customs and regulations.

Indonesia belongs to the 10-member Association of Southeast Asian Nations, with which South Korea already has an FTA.

As of 2012, Indonesia was South Korea's eighth-largest trading partner, with the bilateral trade volume reaching US$29.6 billion, according to the ministry.

Indonesia is also the world's seventh-largest destination for South Korean investors.

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http://www.globalpost.com/dispatch/news/yonhap-news-agency/131103/s-korea-indonesia-hold-6th-round-fta-talks-next-week